From Realtor Magazine Online, Daily Real Estate News February 11, 2009
A $15,000 home buyer tax credit included in the financial stimulus package passed by the Senate this week would encourage more activity in the market, according to the National Association of Home Builders.
A nationwide poll conducted by the group shows that a third of all 1,200 respondents and 61 percent of renters would be more likely to purchase a home if the tax incentive becomes law.
"This is extremely significant because normally in any one year only about 5 to 7 percent of households purchase a home," says NAHB chief economist David Crowe. "This is more evidence that this temporary, timely and targeted tax credit would trigger home sales, end the free-fall in the housing market, generate new jobs and help lead the economy back to higher ground."
Source: Realty Times (2/11/09).
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